News & Analysis: columns

The other day I briefed a German friend on U.S. political realities affecting the prospects for enacting federal covered bond legislation that could help in establishing a market in this country.  The points I made included these:

Spencer Punnett1) The concept of covered bonds has become somewhat identified with Republicans in Washington because in 2008, covered bonds were publicized (some say promoted) by the Bush administration as a potential source of home mortgage funding here.

KANSAS CITY, MO —  My participation at the inaugural Financial Policy Conference held at the Federal Reserve Bank of Kansas City Friday (June 19) came both as a speaker and an attendee.  The fact that organizers wanted the covered bonds angle to be represented is another sign that the topic remains on the public agenda in the U.S.

Editor's Note: Jerry Marlatt helped engineer the first issuance of covered bonds in U.S. history (by Washington Mutual).  Currently senior of counsel in the New York office of the Morrison & Foerster law firm, he also serves on the Steering Committee of the U.S. Covered Bonds Council.  Today, in the last of a four-part series, he takes a look ahead at the possibility of a U.S.